credit cards

Victim of credit card fraud? Stay vigilant

4 steps to recover from credit card fraud
Keep an eye out after setting a fraud alert

Keep an eye out after setting a fraud alert

If you place a fraud alert on your credit report, you will be entitled to a free peek at your report. Take that opportunity, says Rod Griffin, director of public education at Experian. Doing so does not count as one of the free annual credit reports you're entitled to under federal law.

"Credit card fraud can be a sign that other types of fraud (are) happening as well," he says. "If they have been able to get your account number, it's possible they could have gotten other information."

Make sure all the accounts listed on your credit report belong to you and are accurate. Double-check your personal information as well. If anything looks amiss, call the credit-reporting agency immediately.

As for the fraudulent charges, you won't be on the hook for most, if any, of the charges.

Your liability for unauthorized charges on a credit card is limited to just $50 under federal law. In addition, the major credit card brands -- Visa, MasterCard, American Express and Discover -- have zero liability for cardholders, though some restrictions may apply.

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
Product Rate Change Last week
Balance Transfer Cards 15.66%  0.01 15.67%
Cash Back Cards 16.36%  0.03 16.33%
Low Interest Cards 10.87% --0.00 10.87%
 
Search
advertisement
CREDIT CARD WEEKLY NEWSLETTER

Get advice for managing credit cards, building your credit history and improving your credit score. Delivered weekly.

advertisement

Blog

Jeanine Skowronski

Smartwatch app answers: Which card?

A smartwatch app from Wallaby Financial can recommend what credit card to use based on rewards, balances and credit utilization.  ... Read more

Partner Center
advertisement

Connect with us